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$xhtml = array(
	'<{title}>' => 'Strengths, weaknesses, opportunities, and threats',
	'<{subtitle}>' => 'Written in <span title="Principles of Business Management">BUS 1101</span> of <a href="http://www.uopeople.edu/">University of the People</a>, finalised on 2016-12-14',
	'<{copyright year}>' => '2016',
	'takedown' => '2017-11-01',
	'<{body}>' => <<<END
<p>
	Two brothers, Colin and Ed Power, were considering opening up a new business, Athlete&apos;s Warehouse, where they would sell clothing and shoes for the athletic.
	Any decision in either direction should involve an evaluation of the pair&apos;s strengths and weaknesses, as well as the threats and opportunities that their new business would face.
</p>
<h2>Strengths</h2>
<p>
	The brothers&apos; main strengths were that Colin had an established credit rating with some of their suppliers, both brothers had experience running this type of store, and they both had expertize in the goods themselves.
	Because of Colin&apos;s established credit score, the brothers would be able to essentially borrow merchandise from the manufacturer, sell it, then buy the merchandise that they sold from the manufacturer.
	This allows them to avoid paying upfront costs and gives them time to make money before shelling it out.
	By making money first, they aren&apos;t limited by what funds they have on hand before starting their business venture.
	Additionally, Colin&apos;s established credit score with certain manufacturers also implies an established <strong>*relationship*</strong> with those manufacturers.
	Colin would know how these manufactures prefer to do business and what their protocols and procedures are.
	Because the brothers have experience running this type of store, they should have a very good idea of how they want to lay out the store, what their prices should be, and what other factors will play into how their business will run.
	Lastly, because they have expertise in the goods themselves, they can effectively help customers decide what they want.
	Customers that are new to sporting gear could find any good advice to be helpful, and after finding that the brothers recommended the right gear, these people are likely to become repeat customers.
</p>
<h2>Weaknesses</h2>
<p>
	The main weaknesses that these brothers seem to have are a lack of starting funds, their past failures, and Ed&apos;s reluctance to start the business.
	With a shortage of starting capital, it can be difficult to even get the business off the ground.
	Some big-name suppliers, such as Nike, require cash upon delivery of the goods.
	Colin&apos;s credit scores with other suppliers won&apos;t help when goods aren&apos;t purchased on credit.
	Ed and Colin might be unable to stock goods from these cash-on-delivery-based suppliers until their business has already made sufficient profits, but some customers may prefer goods from these brands and might not shop at stores such as Athlete&apos;s Warehouse that don&apos;t have them.
	This will cost the brothers some business during a crucial point in their venture.
	In addition to being unable to purchase goods from certain suppliers on credit, rent money and payment for in-store resources, such as display racks, will be due up front.
	With a low amount of money to start out with, the brothers may have to start smaller than desired, and because of that, make less money.
	Again, this is during a crucial point in their venture, so making little money will have a huge impact on their chances of success.
</p>
<p>
	In addition to a shortage of tangible resources, we also need to look at present attitudes and what past experience tells us about the brothers.
	Ed&apos;s reluctance to start the venture is a major weakness for the business.
	The obvious reason for this is that Ed&apos;s veto could stop the venture before it even starts.
	However, even if Ed decides that Colin&apos;s right, Ed will be more likely to try to play things safe.
	The risks will be lower, but so will the rewards.
	If the brothers want to build a successful business from the ground up, a big amount of risk will likely be needed.
	Lastly, this isn&apos;t the first time that Ed and Colin have attempted to build this kind of business.
	Their past failures could be learning experiences, but they could instead indicate that the brothers don&apos;t have what it takes for this kind of business.
	Trying once more might not be the best idea for either of them.
</p>
<h2>Opportunities</h2>
<p>
	Colon and Ed likewise had an array of opportunities that they could take advantage of.
	Their main opportunities are the lack of similarly-specialized businesses in the area, the fact that their competition doesn&apos;t offer knowledgeable advice to customers, the well-being of the econimy in the area, and the large number of potential customers in the area.
	With a lack of similarly-specialized businesses in the area, Colon and Ed could corner a niche market, essentially giving them a lack of competition.
	Without competitors, the brothers&apos; business doesn&apos;t face as many threats as it otherwise would.
	While some local stores sell similar goods, they don&apos;t offer a one-stop solution, so customers fitting into that niche and wanting to save time will likely choose Athlete&apos;s Warehouse.
	If customers only need certain athletic items and not others, customers still face the fact that the other stores that sell what they need lack knowledgeable staff to help them make their decisions.
	While for veteran customers, this might be acceptable, customers that are less experienced in athletics might very well need the help that Colin and Ed can provide.
</p>
<p>
	The proposed location city of Grand Falls presents opportunities for the brothers.
	At the time that the business was proposed, the economy in Grand Falls was doing very well.
	A healthier economy results in more people being willing to be customers and customers being willing to pay higher prices.
	Now could be the best time to get the business established! Additionally, Grand Falls acts as a shopping hub of sorts.
	Not only would the brothers see customers from Grand Falls proper, but also from the surrounding cities of Springdale, Baie Verte, and Gander.
	At least fifty thousand people come to (or remain in) Grand Falls to do their shopping.
	This would provide Colin and Ed with a wealth of potential customers.
	Colin even estimated that thirty-six percent of people in the area were in the brothers&apos; targeted age range.
	Not everyone in this age range would be interested in athletic gear, but this high density of people in the targeted age range would have a positive impact on the number of anticipated potential customers.
</p>
<h2>Threats</h2>
<p>
	Despite many conditions working in the brothers&apos; favor, their proposed venture still faced threats.
	Their main threats were the competing stores, the fact that the mall had set hours that the brothers would have to recognize in their shop if they chose to run it there, other commitments eating up their time, and the fact that some suppliers demand cash on delivery of goods.
	While Athlete&apos;s Warehouse doesn&apos;t have any direct competition because of their niche specialization, their specialization is basically an overlap of two markets: that of athletic clothing and that of athletic footwear.
	Seemingly, these two sets of products go hand-in-hand.
	If you&apos;re a user of one, you&apos;re probably a user of the other.
	However, you sometimes need to replace one but not the other.
	Other times, you&apos;re willing to make a longer trip with multiple stops for a better deal, better gear, or gear that is in some way more appealing to you.
	Because of this, Athlete&apos;s Warehouse faces competition from a few stores that only sell some of the goods that they do.
	Specifically, Athlete&apos;s Warehouse will have to compete with three sporting goods stores, one clothing and shoe store, and several other clothing and shoe stores that were mentioned in the article, but not numbered.
	If the brothers decide to set up shop in the mall, they&apos;ll only be able to stay open during hours that the mall is open, and may have to stay open longer than desired if the mall requires that they keep the business open during all mall business hours.
	Keeping the store closed during some hours that their customers would want to shop and keeping the store open during other hours that don&apos;t provide the brothers with much (or any) business will hurt their bottom line and their chances of success.
	In one case, money that could be made isn&apos;t, and in the other, money and time are wasted.
	The mall&apos;s schedule may not align will with the brothers&apos; schedule, either.
	Speaking of the brothers&apos; schedule, they have other commitments and aren&apos;t able to run the store full time.
	They&apos;re going to have to hire help, which poses issues as well.
	They might not be able to hire people that are as knowledgeable about the products as the brothers are.
	Likewise, they&apos;ll have to pay these employees, which will cut into Athlete&apos;s Warehouse&apos;s monetary resources.
</p>
<p>
	Touched upon a bit above, some suppliers require cash upon delivery of the goods.
	This is a threat that the brothers aren&apos;t prepared to face, as they don&apos;t have the starting capital that they need (a weakness on their part).
	This weakness and this threat combine to pose a real hazard for the Athlete&apos;s Warehouse, at least in the beginning.
	However, once the business got off the ground and they lost that weakness, this threat shouldn&apos;t pose any more problems.
</p>
<h2>Conclusions</h2>
<p>
	Overall, I think that the brothers could be successful, but they&apos;ll need to work for it.
	It won&apos;t be an easy task to accomplish, but it&apos;d likely provide stable income for both Colin and Ed once the shop becomes more popular.
	As with any new business venture, there&apos;s a lot of risk involved, but Colin and Ed are able to provide something of value that their chosen place of business currently lacks.
</p>
<div class="APA_references">
	<h2>References:</h2>
	<p>
		Howse, B. (1992). Athlete&apos;s Warehouse (A) - Unit 5 Case Study - Athlete Warehouse.pdf. Retrieved from <a href="https://my.uopeople.edu/pluginfile.php/128595/mod_resource/content/1/Unit%205%20Case%20Study%20-%20Athlete%20Warehouse.pdf"><code>https://my.uopeople.edu/pluginfile.php/128595/mod_resource/content/1/Unit%205%20Case%20Study%20-%20Athlete%20Warehouse.pdf</code></a>
	</p>
</div>
END
);
